Private car leasing (also referred to as personal car leasing) is a type of funding where an individual uses a vehicle for a specific period of time and makes regular monthly payments for it.
In an uncertain economy and with ever shorter product life cycles, used cars lose their value ever so faster. As soon as a new vehicle is purchased and leaves the showroom, its market price plummets. This car depreciation phenomenon means that buying a car is a growing risk both in short and longer term.
The addition of rising household bills and reduced savings pushes potential car buyers to look for cost-saving alternatives.
Private Car Leasing Deals
If you tend to change your car regularly (for example every 2 to 4 years), personal car leasing will in most cases work out cheaper for you than ownership. This is because big leasing companies take advantage of their considerable buying power (buying in bulk) to negotiate better prices with manufacturers. These discounts then translate to more competitive private car leasing deals, rarely matched by car dealerships.
Moreover, private car leasing removes the costs and hassles of selling your car when you’re ready to change it again.
Another compelling advantage of leasing VS purchase is that you don’t have to hunt from dealership to dealership for a good offer, as usually the best private car leasing deals are found online. Thus you can browse those from the comfort of your home or on your mobile device, at a time that is convenient for you – be it day or night.
The UK has one of the most advanced car leasing markets in Europe and the world. The advantages stemming from competition between leasing companies don’t end with great deals for customers. The accumulation of expertise in buying hundreds of thousands of new vehicles every year from worldwide manufacturers benefits the car market in general, while their recycling at end of contract into the insatiable used car market keeps prices at bay.